Celtics Owner Wyc Grousbeck Provides Update on Team Sale Process originally appeared on NBC Sports Boston
It’s not often that a sports franchise of great historical significance is available for purchase, but the Boston Celtics are.
The flagship franchise of the NBA, which won its league record, 18th championship in June with a triumph in the final against the Dallas Mavericks, is for sale.
The team made the announcement shortly after the championship parade in June. And according to Celtics principal owner Wyc Grousbeck, the bidding process could begin fairly soon.
“The sales process is gearing up and about to hit full steam,” Grousbeck said. in a recent interview with Adam Himmelsback of the Boston Globe.
“It took all this time for our advisors to review the financial and business data of the team and our entire management team, and devote sufficient time to putting together the offer books. Now they are starting to have discussions with interested parties and the bidding process. will begin next month.”
Some estimates suggest that the team could potentially sell for around $6 billion. Not only are the Celtics a historic franchise, but they also have a championship roster that should be able to contend for titles in the future.
There was conflicting reports about interest from Amazon founder Jeff Bezos in purchasing the team. Steve Pagliuca, who has been part of the ownership group since the beginning in 2002, has publicly confirmed his interest in an offer. released a statement in July which stated that it “would be a proud participant in the tender process”.
Grousbeck was asked about Pagliuca’s interest in the team and their many years of friendship.
“We have a completely open tender process that is underway,” Grousbeck told Himmelsbach. “Steve knows this and accepts it. He has been a great partner and friend for 22 years, and we are happy that he is interested.
“We were able to work together, with the other owners, and we’re still pretty much all together after 22 years. All of these guys are sponsors, but I made it a point to consult and work with all of them. all the way, and we have a happy group after 22, which is really not very common in the business world.
“And Steve was very helpful. He introduced Danny Ainge to the mix, which is a great moment in Celtics history. Steve was great, he continues to be great, but there’s no right special around the candidacy. This is the way our documents are read, this is how we must read them, so this is how we play them.
In addition to the sales process, Grousbeck and the Celtics are focused on defending their title and chasing a 19th championship banner.
The Celtics haven’t been champions since the 1967-68 and 1968-69 seasons, and no team since the 2018 Golden State Warriors repeated. It’s a challenge Celtics players and head coach Joe Mazzulla will face head-on starting Oct. 22 when the team hosts the New York Knicks at TD Garden in the season opener.
